A Quote by Thom Tillis

Any time you do tax reform, you really need to have a transition period. — © Thom Tillis
Any time you do tax reform, you really need to have a transition period.
Any substantial tax reform would involve substantial redistributions of tax burdens and substantial changes in asset values, and you need some 'lubrication' (i.e., transition rules).
If you have to change the law to get more money, that's a tax increase, and Americans for Tax Reform supports all efforts of tax reform, getting rid of deductions or credits, or something that's misclassified, as long as you at the same time reduce rates so that it's not a hidden tax.
We need to have the growth. If we simply look at this as being deficit-neutral, you're never going to get the type of tax reform and tax reductions that you need to get to sustain 3 percent economic growth. We really do believe that the tax code is what's holding back the American economy.
We need a new tax system. We need entitlement reform. We need immigration reform. These are not easy things. But it is going to take our political system working better.
The Democrats and Republicans need to come together. I've criticized Democrats for their unwillingness to address entitlement reform and Social Security and Medicare. Republicans, on the other hand, never saw a tax that they liked, even when it meant closing tax loopholes. They don't want to in any way support any revenue enhancements.
The other thing that's really important in tax reform is making sure that we don't tax American businesses at much higher tax rates than our foreign competitors tax theirs. It is costing us jobs. It's one of the reasons all these American companies are moving overseas.
Why is it that half of the households in America pay zero income tax? We need some real tax reform.
I'm in favor of doing tax reform, but I think tax reform ought to be revenue neutral as it was back during the [Ronald] Reagan years. We've resolved this issue.
We need to stop kicking the can down the road and rethink our entire tax system toward long-term, comprehensive tax reform.
We need to enact fundamental tax reform. The weight and complexity of our 73,000-page tax code are crushing everyday Americans. We need to radically simplify the tax code so that we can re-start the real engine of growth in our economy. That means our tax code needs to go from 73,000 pages down to about three pages.
We need real tax reform which makes the rich and profitable corporations begin to pay their fair share of taxes. We need a tax system which is fair and progressive. Children should not go hungry in this country while profitable corporations and the wealthy avoid their tax responsibilities by stashing their money in the Cayman Islands.
Tax reform means, "Don't tax you, don't tax me. Tax that fellow behind the tree."
Tax reform means, 'Don't tax you, don't tax me. Tax that fellow behind the tree.'
We need health care reform - including promised Medicaid reform in New York... but it shouldn't be done on the backs of already overburdened City residents who will undoubtedly have a tax increase forced on them to fill in the hole.
We need to review the process for the election of Speaker. We've got to reform Question Time, which is really a waste of time. There are so many things that we need to do to reform our Parliament and I think it's bigger than that. It's all about the sort of leadership that people are getting at the moment. They're fed up with this sorta day-to-day bickering, not putting the national interest ahead of these narrow partisan interests.
Basically the tax reform ideas are to clean up the tax system and to eliminate the loopholes that only very few make use of, to eliminate the possibility of people making millions of dollars every year and not paying any tax at all through oil depletion allowances and things like that.
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